The Bank of Canada announced today that it is maintaining its target for the overnight rate at 1.75 per cent.
Recent data have reinforced Governing Council’s view that the slowdown in late 2018 and early 2019 was temporary, although global trade risks have increased. In this context, the degree of accommodation being provided by the current policy interest rate remains appropriate.
In taking future policy decisions, Governing Council will remain data dependent and especially attentive to developments in household spending, oil markets and the global trade environment.
The next scheduled date for announcing the overnight rate target is July 10, 2019.
To learn more: Bank of Canada official press release